Who Owns Owens Corning?

The company began in 1938 as a joint venture between Owens-Illinois, a glass container maker, and Corning Glass Works, which had developed a process for making glass fiber at commercial scale. The venture, Owens-Corning Fiberglas Corporation, turned the new material into insulation for buildings and reinforcement for plastics, creating a product category that barely existed before.

Fiberglas insulation grew into a household name through the postwar construction boom. In 1980 the company licensed the Pink Panther cartoon character for its PINK insulation line, one of the most durable product mascots in advertising history and still in use more than four decades later. The company simplified its name to Owens Corning in 1997.

The darkest chapter came with asbestos. A pipe insulation product the company had sold years earlier generated mass injury litigation, and in 2000 Owens Corning filed Chapter 11 bankruptcy. It emerged in 2006 after funding a trust of approximately $7 billion for claimants and has operated profitably since.

Strategic reshaping accelerated under Chambers. The 2021 purchase of Deckorators added composite decking. The bigger move came in May 2024 with the $3.9 billion acquisition of Masonite, creating a Doors segment, while the company sold its glass reinforcements business to Praana Group in 2025 and exited Chinese building materials. FY2025 sales from continuing operations were $10.1 billion; the doors bet subsequently produced about $1.7 billion in impairment charges through Q3 2026 as the housing market stayed weak.